The good news is that whether you’re earning minimum wage or six figures, you can still build wealth. The bad news is that, no matter how much you earn, you’re just as likely to fall victim to bad money habits. But it doesn’t have to be all bad news, because everyone has the ability to grow and make a change.

So, commit to building wealth, and see if you can put a stop to these bad habits!

Skip the fancy coffee

Yes, it’s delicious. But it adds up. If you were to have a $4-$6 cup of coffee on your way to work every day, that’s over $100 with which you could be saving/investing/building wealth. Make coffee at home — and you don’t have to wait in line!

Waiting to save

I’ll start saving when I’m making more. I’ll start saving next year. There is no better time to begin saving than right now, because if you wait until next year or until you think you’ll be making more money, that’s a pretty big chunk of time you lost not building wealth.

Dipping into your savings

If you are already saving, don’t touch it. Hide it away or put it into an account in which you can’t just casually transfer money out. Also, change your spending habits so that you don’t even need to think about pulling from your savings.

Applying for too many loans

If you’re applying for too many credit cards or loans in a short amount of time, this will look like you’re in desperate need of money to lenders and credit agencies, making it less likely for them to want to lend it to you.

Keeping a high balance on your credit card

One great way to keep a high credit score is to maintain a good spend ratio on your balance. The general rule has been to spend 30% or less of your balance. However, more recently, it’s been advised to keep it as low as possible if you want a better score. This means you shouldn’t use your credit card like it’s free money, but rather as a strategy to build your credit so that you can be approved for mortgages, loans, student loans, etc..

Signing up for unnecessary monthly subscriptions

Take stock of your monthly subscriptions: cable, magazines, meal services, smart phone apps, etc.. This doesn’t mean you shouldn’t enjoy entertainment, but perhaps you were sold on the perceived convenience more than the actual product itself. How much of the money you spend on subscriptions could be better saved or invested?

Stop impulse buying

Just because it’s on sale, doesn’t mean you should buy it! Impulse buys are a huge digression from building wealth and it’s one of the main reasons people end up spending more than they earn. If you see something you love but know you shouldn’t buy it, take a few days to think about it. If you forget about it, you probably didn’t need it.

For more tips on building wealth the right way, get your copy of Wealth Can’t Wait.Available on Amazon!